GRAND RAPIDS -The U.S. Congress has reauthorized the Small Business Innovation Research and Small Business Technology Transfer programs through 2017.
Through these two competitive programs, the Small Business Administration ensures that the nation’s small, high-tech, innovative businesses are a significant part of the federal government’s research and development efforts. Eleven federal departments participate in the SBIR program; five departments participate in the STTR program awarding $2 billion to small high-tech businesses. SBIR/STTR grants and contracts are awarded to small businesses in two phases; Phase I (for early development) and Phase II (for later-stage development), and participating businesses are expected to move through Phase III (commercialization) with use of non-Federal dollars.
For many of Michigan?s innovative small businesses, these funds mean the opportunity to continue to develop their technologies to bring to market.
There are at least six key changes from prior reauthorizations:
1) Six-year period vs the traditional eight
2) Increases award limits to $150K/$1 million for Phases I/II
3) Gradually increases SBIR budget allocation from 2.5 to 3.2 percent over 6 years
4) Gradually increases STTR budget allocation from 0.3 to 0.45 percent over 5 years
5) Allows up to 25 percent of agency budget awards to large business owned applicants
(some agencies get only 15 percent authorization for this).
6) Allows agencies to divert 3 percent of authorized funds to administer these programs
(previously ALL funding went to applicants, not to govt.)
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